document.write( "Question 102467: if a piece of real estate purchased for $50,000 in 1998 appreciates at the rate of 5% per year, then its value t years after the purchase will be f(t)=50,000(1.05^t). Accordiing to this model, by how much will the value of this piece of property increase increase between the years 2007 and 2008? \n" ); document.write( "

Algebra.Com's Answer #74486 by josmiceli(19441) $\"\"$ $\"About$

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The main question to be answered is: how many years have passed by
\n" ); document.write( "since the year of purchase and the years in question, 2007 and
\n" ); document.write( "2008? Between 1998 and 2000, there are 2 years, Then between 2000
\n" ); document.write( "and 2007 there are 7 years, So there are 9 years between 1998 and
\n" ); document.write( "2007. That means there are 10 years between 1998 and 2008.
\n" ); document.write( " Just solve the formula for 10 years, then for 9 years, and take
\n" ); document.write( "the difference.
\n" ); document.write( " $\"f%2810%29+=+50000%281.05%29%5E10\"$
\n" ); document.write( " $\"f%2810%29+=+50000%2A1.6289\"$
\n" ); document.write( " $\"f%2810%29+=+81445\"$
\n" ); document.write( "then
\n" ); document.write( " $\"f%289%29+=+50000%281.05%29%5E9\"$
\n" ); document.write( " $\"f%289%29+=+50000%2A1.5513\"$
\n" ); document.write( " $\"f%289%29+=+77566\"$
\n" ); document.write( " $\"81445+-+77566+=+3879\"$ answer to the nearest dollar
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